08Mar2022 Market Close & Major Financial Headlines: Street Reverses Course After Investors Gleefully Jump On The ‘Oil Ban Train,’ DOW Ends Session Down 185 Points, NASDAQ Down 0.3%, S&P 500 Closed Down Sharply 0.7%

Kazakhstan Is Exploring Export Routes To Circumvent Russia

Kazakhstan plans to increase the trafficking of cargo via the Caspian Sea as traders run into growing problems getting their goods through sanctions-battered Russia. The governments press service said on March 7 that a greater volume of wares would be transported along a route taking in the ports of Aktau and Kuryk, across the Caspian toward Baku in Azerbaijan, and then offloaded again onto ships in the Black Sea ports of Batumi and Poti in Georgia. This logistical corridor, which is reliant on railroad and sea links, is

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kazakhstan-Is-Exploring-Export-Routes-To-Circumvent-Russia.html

Why Easing Sanctions Against Venezuela Would Be A Bad Move For The U.S.

President Vladimir Putins invasion of Europes second-largest country Ukraine highlights the threat posed by rising authoritarianism in a post-pandemic world afflicted by supply shocks for critical natural resources, notably crude oil. Rising global instability is not only undermining economic certainty, thereby causing commodity prices to spiral higher, but is strengthening authoritarian regimes which pose a threat to the global liberal democratic order. Unsurprisingly, President Nicolas Maduro of Venezuela emerged as one of the very

Read more at: https://oilprice.com/Geopolitics/South-America/Why-Easing-Sanctions-Against-Venezuela-Would-Be-A-Bad-Move-For-The-US.html

Goldman Sachs: Oil Prices To Average $135 Per Barrel This Year

Oil prices are set to average $135 per barrel this year as the world could face the largest energy supply shocks ever with Russian crude struggling to make it to the market, according to Goldman Sachs. The investment bank significantly hiked its oil price forecasts for 2022 and 2023. Goldman now sees the spot Brent Crude price averaging $135 a barrel this year, up from $98 expected earlier. The forecast for 2023 is now $115 a barrel spot Brent, compared to $105 previously. Although Russias exports are not under sanctions

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Oil-Prices-To-Average-135-Per-Barrel-This-Year.html

Nothing But Bullish News As Oil Prices Soar

Reader Update:Biden has now officially announced a ban on Russian energy imports. With this in mind, ourGlobal Energy Alert members just received an in-depth report on the best opportunities in the U.S. shale patch. Sign-up for Global Energy Alertand read the report today.Chart of the Week- Spot gas prices in Europe have reached unprecedented levels on fears that sanctions against Russia, accounting for 40% of total imports, might leave the continents natural gas demand without supply.- Europes benchmark spot

Read more at: https://oilprice.com/Energy/Energy-General/Nothing-But-Bullish-News-As-Oil-Prices-Soar.html

Tesla Sold Fewer Cars In China In February

Tesla officially sold 56,515 Chinese made vehicles in February, according to new data from the China Passenger Car Association (CPCA) that was released on Tuesday. New energy vehicles in China were up 180.5% YOY to 272,000 total units. This is sequentially lower than the company’s 59,845 vehicles sold in January, investors had widely expected a slight decline in numbers. Year over year, the numbers are impressive, but the comps still reflect a slowdown in production due to the ongoing Covid pandemic. In February 2021, Tesla sold 18,318 vehicles

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Tesla-Sold-Fewer-Cars-In-China-In-February.html

Canceling Keystone XL May Have Been Bidens Biggest Blunder

Some readers wont get past the headline before rendering the opinion that I obviously dont care about climate change. That is false. My views on climate change are entirely compatible with the points I am about to make. In fact, my points are also compatible with the views of the Biden Administration. Just this week at a press briefing, in response to questions about restricting Russian oil imports, Press Secretary Jen Psaki said We dont have a strategic interest in reducing the global supply of energy and that would

Read more at: https://oilprice.com/Energy/Crude-Oil/Canceling-Keystone-XL-May-Have-Been-Bidens-Biggest-Blunder.html

Stitch Fix shares plummet after company cuts guidance for the year

Stitch Fix offered a weak outlook for its fiscal third quarter and slashed its forecast for the full year.

Read more at: https://www.cnbc.com/2022/03/08/stitch-fix-shares-plummet-after-company-cuts-guidance.html

Starbucks suspends business in Russia as Putin’s forces press attack in Ukraine

Starbucks is suspending all business activity in Russia nearly two weeks after Kremlin forces attacked Ukraine.

Read more at: https://www.cnbc.com/2022/03/08/starbucks-suspends-all-business-in-russia-as-putins-forces-attack-ukraine.html

Aaron Rodgers says he is returning to the Green Bay Packers

MVP quarterback Aaron Rodgers is coming back to the Green Bay Packers, after all.

Read more at: https://www.cnbc.com/2022/03/08/aaron-rodgers-says-he-is-returning-to-the-green-bay-packers.html

Considering a Roth IRA conversion? Here’s what investors need to know to reduce the tax bite

If you’re eyeing a Roth IRA conversion, there may be ways to lessen the tax bite, financial experts say. Here’s what investors need to know.

Read more at: https://www.cnbc.com/2022/03/08/considering-a-roth-ira-conversion-heres-how-to-reduce-the-tax-bite.html

Nickel’s price surge could threaten automakers’ ambitious electric-vehicle plans

Nickel is a key ingredient in lithium-ion batteries. Its price surge could make EVs less competitive, hampering automakers’ aggressive EV sales hopes.

Read more at: https://www.cnbc.com/2022/03/08/nickel-price-surge-could-threaten-automakers-ev-plans.html

How the Broadway ‘Tina Turner’ star navigated the pandemic and is now helping other women achieve their goals

Nkeki Obi-Melekwe, the star of Broadway’s “Tina: The Tina Turner Musical,” found new ways to make money and tap into her creative energy during the pandemic.

Read more at: https://www.cnbc.com/2022/03/08/broadway-tina-turner-star-nkeki-obi-melekwe-on-navigating-the-pandemic.html

McDonald’s temporarily closes 850 restaurants in Russia, nearly 2 weeks after Putin’s forces invaded Ukraine

McDonald’s said will temporarily close 850 locations in Russia after the company took heat for staying silent on the war in Ukraine.

Read more at: https://www.cnbc.com/2022/03/08/mcdonalds-will-temporarily-close-850-restaurants-in-russia-nearly-2-weeks-after-putin-invaded-ukraine.html

Stocks making the biggest moves midday: Chevron, Caterpillar, SunPower and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2022/03/08/stocks-making-the-biggest-moves-midday-chevron-caterpillar-sunpower-and-more-.html

Boeing’s airplane deliveries slipped in February as Dreamliner problem lingers

Boeing handed over 22 planes to customers in February, its fewest since August.

Read more at: https://www.cnbc.com/2022/03/08/boeing-airplane-deliveries-slipped-in-february-dreamliner-problem-lingers.html

Lululemon launches into footwear as it seeks to take on industry giants like Nike, Adidas

Lululemon will debut two types of women’s cross-training sneakers this summer, priced at $138 and $148.

Read more at: https://www.cnbc.com/2022/03/08/lululemon-footwear-marks-new-product-to-take-on-nike-adidas.html

5 things to know before the stock market opens Tuesday

U.S. stock futures turned lower Tuesday, one day after a broad market slide as concerns about oil supply.

Read more at: https://www.cnbc.com/2022/03/08/5-things-to-know-before-the-stock-market-opens-tuesday-march-8.html

GM electric vehicles to power homes in a new California pilot program

The move matches similar capabilities by other automakers, including Ford Motor.

Read more at: https://www.cnbc.com/2022/03/08/gm-electric-vehicles-to-power-homes-in-a-new-california-pilot-program.html

European Union To Phase Out Russian Oil And Gas As It Seeks Energy Independence

European Union To Phase Out Russian Oil And Gas As It Seeks Energy IndependenceOn Tuesday, the European Commission published a new ambitious energy strategy to “make Europe independent from Russian fossil fuels well before 2030,” according to NYTimes.

“We must become independent from Russian oil, coal, and gas,” the commission’s president, Ursula von der Leyen, said in a news release.

“We simply cannot rely on a supplier who explicitly threatens us,” he said.

The commission said it aims to reduce as much as two-thirds of its natural gas needs from Russia within a year and seeks to halt all imports of LNG and natgas by the end of the decade. It expects to increase gas imports from other countries this year. If implemented, this could be a massive boon for LNG supplies in Qatar and around the Gulf of Mexico.

The Russian invasion of Ukraine has been a turning point for Europe to become energy independent. Russia supplies the 27-country bloc about a third of its gas, 27% of its oil imports, and 46% of its coal imports. Add it all up, and it’s tens of billions of dollars a year for President Vladimir Putin.

“It is time we tackle our vulnerabilities and rapidly become more independent in our energy choices,” EU climate policy chief Frans Timmermans said. “Putin’s war in Ukraine demonstrates the urgency of accelerating our clean energy transition.”

The UK also appears to be on boa …

Read more at: https://www.zerohedge.com/commodities/european-union-phase-out-russian-oil-and-gas-it-seeks-energy-independence

Jeff Gundlach Live Webcast: “Convoy”

Jeff Gundlach Live Webcast: “Convoy”It’s time for DoubleLine’s CEO Jeff Gundlach to share his market thoughts with everyone as part of his periodic live webcast, titled this time “Convoy” which can be accessed at the following link:

The last time we heard from Gundlach at the start of the year, as part of his “Just Markets” webcast. Back then, he said he was focusing on signals that show the U.S. economy could be weakening. That was a bit of a contrarian call in January – if one we have been pounding the table on – but it’s now top of mind for investors who are trying to figure out what Russia’s invasion of Ukraine means for global growth.

As Bloomberg reminds us, Gundlach said in his January webcast that he was long-term bearish on the U.S. dollar and bullish on gold. Since the start of the war in Ukraine, both the greenback and gold have rallied in tandem as traders seek havens from risk. It will be interesting to watch whether Gundlach changes his call on the dollar and offers a prediction …

Read more at: https://www.zerohedge.com/markets/jeff-gundlach-live-webcast-convoy

Five Charts To Watch For When The Low Is In

Five Charts To Watch For When The Low Is InBy Simon White, Bloomberg Markets Live commentator and analyst

Liquidity and tactical equity indicators do not yet indicate a capitulatory low in U.S. equities.

The market is trying to find a bottom, but we are not there yet. Liquidity is poor and continues to point to more equity volatility ahead, while tactical indicators are not yet at levels seen at previous bottoms.

Market tops are processes, while market bottoms tend to be points in time. Tops can play out over many months, but bottoms are often sharp and sudden and the rally afterwards can be as aggressive as the initial sell off.

Catching a market bottom can therefore be very profitable if you get the timing right. That is why it pays to watch for signs of capitulation. The following charts show that while signs of stress are growing, we have not yet had the sort of capitulatory move associated with previous market bottoms.

The first is liquidity. Excess liquidity is the difference between money growth and real economic growth. Therefore it is a measure of the liquidity “excess” to the needs of the real economy and so available to support risk assets. Declining money growth and rising inflation have taken excess liquidity much lower, which points to more downside for US and DM equities.

Read more at: https://www.zerohedge.com/markets/five-charts-watch-when-low

Rollercoaster Session Sends Stock Soaring Then Tumbling To Session Lows As Gold Soars

Rollercoaster Session Sends Stock Soaring Then Tumbling To Session Lows As Gold SoarsCompared to yesterday’s insanity, the market may still be broken (for details read, the latest note from Charlie McElligott “Where Do We Even Begin With These Broken Markets”), but at least the level of insanity was dialed down.

After tumbling overnight to 4,138, just shy of the previous 2022 intraday low, stock meandered in a tight range before soaring higher more than 100 points after the AFP repackaged an old, almost day-old ABC interview with Ukraine’s Zelensky, in which he suggested he was no longer pressing for NATO membership and which the market took as a new, conciliatory development. As a result, the momentum-chasing algos quickly sent spoos into overdrive, up as high as 4,275… before  markets realized that they are surging on non-news, and retraced almost the entire move higher. And with lack of any other positive newsflow from Ukraine, spoos reversed and slumped lower closing at the lows of the day session, breaching the 4200 level which had been viewed as a critical support for the index.

Read more at: https://www.zerohedge.com/markets/rollercoaster-session-sends-stock-soaring-then-tumbling-session-lows

McDonald’s to temporarily close stores in Russia

The burger giant and Starbucks join a growing list of firms halting business in Russia over Ukraine.

Read more at: https://www.bbc.co.uk/news/business-60665877?at_medium=RSS&at_campaign=KARANGA

War in Ukraine: West hits Russia with oil bans and gas curbs

The US bans Russian oil, targeting the Russian economy’s “main artery” over its invasion of Ukraine.

Read more at: https://www.bbc.co.uk/news/world-us-canada-60666251?at_medium=RSS&at_campaign=KARANGA

Shell sorry and pledges to stop buying Russian oil

The energy giant says it will also close all its petrol stations in Russia and stop buying oil there.

Read more at: https://www.bbc.co.uk/news/business-60661611?at_medium=RSS&at_campaign=KARANGA

Looking for the next big theme in stock market? Try chef’s special!

​​Largecap-smallcap, active-passive and diversified-concentrated, among others, are the aspects open to new ideas that weigh several options. Today, we will discuss these factors in the context of thematic allocation.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/looking-for-the-next-big-theme-in-stock-market-try-chefs-special/articleshow/90077180.cms

Why Marc Faber would prefer Indian stocks vs US if Ukraine conflict ends

“The US market has been soaring while the other markets have been moving sidewards or down. Emerging markets and Europe have never been this cheap compared to the US and if the conflict dissolved tomorrow, I would buy Indian shares and not US stocks… I have argued for the last 30 years that you need to own some gold, silver and platinum as an insurance against the political problems . But if only 5% of your assets in gold, the hedge was too small. ”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/if-the-conflict-dissolved-tomorrow-i-would-buy-indian-shares-and-not-us-stocks-marc-faber/articleshow/90073023.cms

This crypto token sails against the tide to rally 140% in a month. Here’s why

Jay Hao, CEO of OKX, said, “Waves is an underlying tech for a variety of decentralized apps and smart contracts. The recent upgrade to Waves 2.0, which was announced last month, may have sparked investor interest in the native token.”

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/this-crypto-token-sails-against-the-tide-to-rally-140-in-a-month-heres-why/articleshow/90078508.cms

: After years of living in Moscow, I have bad news: No one should expect the Russian people to suddenly rise up against Putin now

Years of state-controlled media, stifled dissent and increases in standards of living have bred an almost impenetrable political complacency.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7A4A-FF35492C933A%7D&siteid=rss&rss=1

Earnings Results: MongoDB stock rallies after results, outlook beat Street view

MongoDB Inc. shares rallied in the extended session Tuesday after the database company’s results and outlook topped Wall Street expectations.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7A59-DEC4F25A4976%7D&siteid=rss&rss=1

: Apple unveils new $4,000 Mac Studio with an M1 Ultra chip, along with refreshed iPhone SE and iPad Air

Apple Inc.’s first product event of 2022 featured a new premium Mac offering powered by Apple silicon, along with a refreshed iPhone SE and iPad Air, and the first move into broadcasting live sports by the most valuable company in the U.S.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7A56-09F970E74A9C%7D&siteid=rss&rss=1